NAIROBI, Kenya, Nov 18 – Battery swapping technology specialist STIMA has partnered with Kenyan vehicle financier Mogo, a part of Eleving Group, and the ride hailing company Bolt to increase electric motorcycles in Kenya.
STIMA will contribute motorcycles and battery swapping infrastructure to the partnership while Mogo, which already has more than 50,000 active lease-to-own agreements with motorcycle riders, will support lease-to-own plans for riders adopting STIMA-powered electric motorcycles.
Bolt will promote electric motorcycles to the fleet of 4,000 riders currently using Bolt food delivery App, with the objective of transitioning its food delivery fleet to electric.
“The partnership with Mogo and Bolt contribute to the far-reaching goal of STIMA: to spread the adoption of e-mobility in Kenya and East Africa,” STIMA Co-Founder and CEO Jason Gras said.
“By harnessing STIMA’s battery swapping technology, Mogo’s tier one asset financing and Bolt’s legacy in ride hailing, this partnership will put more electric motorcycles on the road,” he said.
The partnership unites three entities with shared values of climate-friendly mobility, providing complete transport solutions through lease-to-own asset finance, battery swapping technology and ride hailing.
“The future of mobility will be electric. The first steps in educating people about climate-friendly and sustainable decisions must be taken already today, and it is a part of the Group’s mid-term, and long-term strategy,” Eleving Group CEO Modestas Sudnius said.
“We want to be present in Kenya with innovative products and productive lending. For us, this project contributes to fulfilling our strategic goals in the field of ESG, where we have committed to increasing the number of emission-free vehicles in our portfolio and reducing the carbon footprint arising from it.”
Through STIMA, couriers will purchase electric motorcycle bikes, allowing them to save on costs as they are less cost intensive in terms of consumption and maintenance, Bolt Food Country Manager Edgar K Kitur said.
“Through Mogo, they will get ready access to financing, which mitigates the challenge posed by the initial cost of acquisition of the e-bikes,” he said.
The e-motorcycles will add to our existing greener transport options on our platform, including electric tuk-tuks and ebicycles,” Kitur added.
